The building was then converted into a theater and nightclub, and ownership subsequently changed several times, until it was bought by the Walt Disney Company's Buena Vista Pictures in 1998.

Development was led by lodge master Charles E. Toberman, who was also responsible for the Hollywood Bowl, Hollywood Roosevelt Hotel, Chinese Theatre, and Max Factor Salon,[5] while design and construction was led by John C. Austin who along with his associated was also responsible for Los Angeles City Hall, Griffith Park Observatory, Shrine Auditorium, and more.

Toberman and fellow member Charles Boag formed a Hollywood Masonic Club to partly finance the building offering membership subscriptions for $100.

"[5] The Los Angeles Times described the building this way in 2002: It's an impassive presence that seems to transcend the ebb and flow of Tinseltown glamour — a somber Neoclassical temple that stands in stark contrast to the evolving parade of movers, shakers, panhandlers and paparazzi that have passed before it.

[7] Many of Hollywood's elite over the years have been Masons, including Oliver Hardy, Harold Lloyd, Douglas Fairbanks, W.C. Fields, Cecil B. DeMille, D.W. Griffith, John Wayne, Roy Rogers, and Gene Autry.

Westmark Development at that time had Nicholas Olaerts and Thomas Harnsberger as general partners[6] and who were owners of El Capitan Theatre by 1992.

The Blue and Red Halls were restored then modified for a disc jockey's podium, special electronic and lighting equipment and bars.

Disney restored original fixtures, including backlighted stone filigree, wrought iron torchieres, Batchelder tiles and old post boxes once used by Masonic officers.

Eight stone steps lead up to the entrance, which consists of heavy wooden double doors decorated with inserts of glass covered with ornamental iron grillwork.

Additionally, there are two slightly recessed street level entrances framed by tall pilasters at the east and west corners of the building.